Bitcoin Price Prediction: BTC/USD accelerates down to $8,100 support
|- Divergence structures appear in MACD and DMI.
- In the short term, a bullish rebound may occur.
- The long-term bullish trend is in jeopardy below $7,300.
The BTC/USD pair is currently trading at the $8.409 price level and keeps flashing the weakness shown in recent hours.
The 4-hour chart points to the support level at $8,000-$8,100.
The BTC/USD pair moves within a triangular figure that was formed at the relative lows of late October.
Considering the current low volatility, these levels should not be reached until the coming days. The loss of this support level at $8,000 will open the door to the search for new relative lows below $7,300.
It is important to note the divergent structures in both MACD and DMI.
The bears have a slight advantage over the bulls in trend strength, but the latter are convinced that they will end up winning, given the increase in bullish intensity despite the constant falls in price.
Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.